- EUR/JPY softens to around 181.05 in Friday’s early European session.
- A positive view of the cross remains intact above the 100-day EMA, with the bullish RSI indicator.
- The initial support level is seen at 179.41.
The EUR/JPY cross trades in negative territory near 181.05 during the early European session in Friday. The Japanese Yen (JPY) edges higher against the Euro (EUR) amid some verbal intervention from Japanese authorities. Traders brace for the release of Germany’s Retail Sales and Consumer Price Index (CPI) inflation data, which will be released later on Friday.
In the daily chart, EUR/JPY trades at 181.04. Price holds well above the rising 100-EMA at 174.71, sustaining the medium-term uptrend. The slope of the average has steepened in recent weeks, reinforcing bullish control. RSI at 63.77 is firm but not overbought, easing from 65.56 and indicating momentum has cooled slightly.
Price trades above the middle Bollinger Band and leans toward the upper band at 182.67, while the bands widen, signaling persistent bullish pressure and elevated volatility. A daily close through the upper band could extend the advance, whereas a pullback under 179.41 would expose a support range at 176.15–174.71.
(The technical analysis of this story was written with the help of an AI tool)
Technical Analysis:
In the daily chart, EUR/JPY trades at 181.04. Price holds well above the rising 100-EMA at 174.71, sustaining the medium-term uptrend. The slope of the average has steepened in recent weeks, reinforcing bullish control. RSI at 63.77 is firm but not overbought, easing from 65.56 and indicating momentum has cooled slightly.
Price trades above the middle Bollinger Band and leans toward the upper band at 182.67, while the bands widen, signaling persistent bullish pressure and elevated volatility. A daily close through the upper band could extend the advance, whereas a pullback under 179.41 would expose a support range at 176.15–174.71.
(The technical analysis of this story was written with the help of an AI tool)
